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Economy of Latvia. Statistics, Data and Indicators

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Latvia
69A- Credit rank #39
N/A Quality of life #
36 Corruption rank#41
19 Ease of doing business#19
Latvia


Latvia Major Economic Indicators

Indicator Data Period
GDP Value 33.51 USD Billion 2020
GDP Annual Growth Rate 6.7 % 1Q/22
GDP Growth Rate 3.6 % 1Q/22
GDP per capita 15488 USD 2020
Inflation Rate YoY 16.9 % May/22
Interest Rate 0 % Jun/22
Unemployment Rate 7.3 % 1Q/22
Wages 1011 EUR/Month | 1035.542 USD/Month Mar/22
Balance of Trade -537 EUR Million | -0.55 B USD Apr/22
Current Account -238 EUR Million | -0.244 B USD Apr/22
Foreign Exchange Reserves 4657 USD Million | 4.657 B USD May/22
Government Debt 14632 EUR Million | 14.987 B USD 1Q/22


GDP Indicators

Indicator Data Period
GDP Value 33.51 USD Billion 2020
GDP Annual Growth Rate 6.7 % 1Q/22
GDP Growth Rate 3.6 % 1Q/22
GDP per capita 15488 USD 2020
Gross National Product 7885 EUR Million | 8.076 USD Billion 1Q/22
GDP Constant Prices 6304703 EUR Thousand | 6.458 B USD 1Q/22
GDP per capita PPP 29932 USD 2020
GDP From Agriculture  160367 EUR Thousand | 0.164 B USD 1Q/22
GDP From Construction  200808 EUR Thousand | 0.206 B USD 1Q/22
GDP From Manufacturing  768825 EUR Thousand | 0.787 B USD 1Q/22
GDP From Mining  173572 EUR Thousand | 0.178 B USD 1Q/22
GDP From Public Administration  367672 EUR Thousand | 0.377 B USD 1Q/22
GDP From Services  836260 EUR Thousand | 0.857 B USD 1Q/22
GDP From Transport  454551 EUR Thousand | 0.466 B USD 1Q/22


Budget Indicators

Indicator Data Period
Government Debt to GDP 44.8 % 2021
Government Budget Value -55283352 EUR | -0.057 USD Billion May/22
Government Spending 1161178 EUR Thousand | 1.189 USD Billion 1Q/22
Government Debt 14632 EUR Million | 14.987 USD Billion 1Q/22
Government Revenues 1210025 EUR Thousand | 1.239 USD Billion May/22
Fiscal Expenditure  1292579 EUR Thousand | 1.324 B USD May/22
Government Budget to GDP -7.3 % 2021
Government Spending to GDP 43.6 % 2020
Military Expenditure 739 USD Million | 0.739 B USD 2020


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 130 index points May/22
Export Prices 138 index points Apr/22
Food Inflation 18.2 % May/22
Gasoline Prices 2.04 USD/Liter Jun/22
GDP Deflator 1.29 % 1Q/22
Import Prices 121 index points Apr/22
Inflation Rate YoY 16.9 % May/22
Producer Prices 148 index points May/22
Inflation Rate Mom 4 % May/22
Core Consumer Prices 116 Index Points Apr/22
Core Inflation Rate 7.1 % May/22
CPI Housing Utilities 142 Index Points May/22
CPI Transportation 138 Index Points May/22
Harmonised Consumer Prices 130 Index Points May/22
Producer Prices Change  31.5 % May/22


Trade Indicators

Indicator Data Period
Current Account to GDP 3 % 2020
Balance of Trade -537 EUR Million | -0.55 USD Billion Apr/22
Capital Flows -317000 EUR Thousand | -0.325 USD Billion 1Q/22
Current Account -238 EUR Million | -0.244 USD Billion Apr/22
Exports 1622 EUR Million | 1.661 USD Billion Apr/22
External Debt 37562 EUR Million | 38.474 USD Billion 1Q/22
Foreign Exchange Reserves 4657 USD Million | 4.657 USD Billion May/22
Imports 2159 EUR Million | 2.211 USD Billion Apr/22


Money Indicators

Indicator Data Period
Bank Lending Rate 3.31 % Mar/22
Gold Reserves 6.66 Tonnes 1Q/22
Interbank Rate 0.17 % Jul/22
Interest Rate 0 % Jun/22
Loans to Private Sector 4336 EUR Million | 4.441 USD Billion May/22
Money Supply M0 11236 EUR Million | 11.509 USD Billion May/22
Money Supply M1 17665 EUR Million | 18.094 USD Billion May/22
Money Supply M2 18979 EUR Million | 19.44 USD Billion May/22
Central Bank Balance Sheet 25972 EUR Million | 26.602 B USD Apr/22
Foreign Direct Investment -31 EUR Million | -0.032 B USD Mar/22


Labor Indicators

Indicator Data Period
Minimum Wages 500 EUR/Month | 512.138 USD/Month 1Q/22
Retirement Age Men 63.75 2020
Retirement Age Women 63.75 2020
Unemployment Rate 7.3 % 1Q/22
Wages 1011 EUR/Month | 1035.542 USD/Month Mar/22
Youth Unemployment Rate 10.4 % May/22
Employed Persons 869 Thousand Person | 0.869 Million Person 1Q/22
Employment Change  -0.3 % 4Q/21
Employment Rate  62.7 % 4Q/21
Full Time Employment 762 Thousand Person 1Q/22
Job Vacancies 27759 | 27.759 K 1Q/22
Labor Force Participation Rate 67.6 % 4Q/21
Long Term Unemployment Rate 2 % 1Q/22
Part Time Employment 61.7 Thousand Persons 1Q/22
Unemployed Persons 53825 Persons | 0.054 Million Persons May/22


Taxes



Production Indicators

Indicator Data Period
Electricity Production 658 GWh Apr/22
Industrial Production 5.3 % May/22
Mining Production 0.7 % May/22
Industrial Production (MoM) 0.2 % May/22


Business Indicators

Indicator Data Period
Business Confidence -0.2 index points May/22
Corruption Index 59 index points 2021
Corruption Rank 36 place 2021
Ease of Doing Business 19 place 2019
Manufacturing Production 7.5 % May/22
Competitiveness Index 66.98 Index Points 2019
Competitiveness Rank 41 2019
Economic Optimism Index 95 Index Points Apr/22


Consumer Indicators

Indicator Data Period
Consumer Confidence -30.6 index points May/22
Retail Sales MoM -1.1 % May/22
Retail Sales YoY 4.2 % May/22
Consumer Credit 509 EUR Million | 0.56 USD Billion Dec/18
Consumer Spending 4038742 EUR Thousand | 4.137 USD Billion 1Q/22
Households Debt To Income 30.84 % 2020


Housing Market

Indicator Data Period
Construction Output -11 % 4Q/21